Wall Street whipsaws on conflicting reports on Iran deal

Wall Street whipsaws on conflicting reports on Iran deal

(Reuters) - U.S. stocks were whipsawed on Tuesday on conflicting reports on whether President Donald Trump will withdraw the United States from the Iran nuclear deal.

The stocks pared losses to trade flat after CNN reported Trump was expected to allow sanctions to go forward on Iran, but would not withdraw from the deal.

But those moves evaporated after the New York Times reported that Trump told French President Emmanuel Macron the United States was going to pull out of the deal.

"We're getting conflicting reports about the Iran deal. CNN reported that (Trump) would not withdraw but the New York Times is reporting that he will withdraw," said Michael Antonelli, managing director, institutional sales trading at Robert W. Baird in Milwaukee.

"The market will struggle until we get clarity on this."

At 11:51 a.m. ET, the Dow Jones Industrial Average was down 25.41 points, or 0.08 percent, at 24338.76. The S&P 500 lost 3.99 points, or 0.15 percent, to 2,668.64 and the Nasdaq Composite dropped 11.70 points, or 0.16 percent, to 7,253.52.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'Silva)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: May 09, 2018 00:05 AM

Also Watch

It's A Wrap: Omerta star Rajkummar Rao in conversation with Parul Sharma
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Thursday, April 19, 2018 Watch: National-level skater and coach Dhwanit Rele trains and nurtures budding athletes
  • Monday, May 14, 2018 FOMO Episode 1: Google Assistant, This is America, Sonam's wedding & Global Warming
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See